Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf, medical marijuana dispensary in Jamestown, North Dakota. During these uncertain times this is a great investment because medical marijuana dispensaries remain open as they are considered “essential” businesses. The tenant is currently operating as Herbology but is anticipated to transition the store name to Curaleaf following the recent acquisition of Grassroots – making Curaleaf the world’s largest cannabis company.
This Curaleaf offers a brand new, 10-year, triple net lease with the full lease term remaining. This lease offers two, five-year renewal options and 10 percent rent increases every five years throughout the base term and option periods.
The average household income within three miles of the property exceeds $71,900. The Subject Property is a half mile from Interstate 94, which is the major roadway in the area connecting Jamestown to Fargo, 94 miles east and the State Capital Bismarck, 103 miles west. Surrounding national brands in the area include Walmart Supercenter, Tractor Supply Company, Harley-Davidson, Days Inn by Wyndham, Hampton Inn, Comfort Inn & Suites, Holiday Inn Express, Applebee’s, Burger King, Verizon and many more.
This Curaleaf is two miles from the University of Jamestown with an enrollment of 1,089 students. The property is also three miles from Jamestown Mall, and 3.5 miles from Jamestown Regional Airport.